Cogeco blames Atlantic Broadband subscriber losses on Miami snowbirds cancelling service
Atlantic Broadband lost 1,044 video subscribers in the quarter ending May 31, with new parent Cogeco Cable attributing the losses to "seasonal variations in the Miami area due to snowbirds leaving for the summer."
Cogeco, which closed its acquisition of Atlantic Broadband in December, said the MSO also lost 213 telephone customers and gained 1,191 high-speed Internet subscribers in its fiscal third quarter of 2013. It dropped a total of 66 primary service units in the quarter, and now counts 233,941 cable TV, 176,170 high-speed Internet and 78,763 telephone customers.
Atlantic Broadband generated $68.1 million in revenue in fiscal Q3 and $44.7 million in operating expenses, posting $23.4 million in operating income, Cogeco said.
The company's Canadian cable systems lost 7,363 cable TV subscribers and gained 1,160 high-speed Internet and 2,938 phone customers. Cogeco said it now counts 845,344 video, 650,325 broadband and 485,621 telephone customers north of the border.
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